Effective Employee Retention Strategies To Reduce BPO Attrition
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Effective Employee Retention Strategies To Reduce BPO Attrition
| Date Added: September 01, 2009 09:49:01 AM |
| Author: Alex |
| Category: Business Services |
| It is said that, intelligent employers know the tricks to retain the best talent in the industry and understand its importance. Retaining the best industry talent has never been so important in Indian bpo industry. However, the things have changed in recent years. In major metro cities, there is no dearth of opportunities for the best in business or even for the second or third. In the present economic meltdown, the retention of key employees and treating attribution issues has never been so important in companies. In an intensely competitive BPO environment, the HR managers of the organizations can either hold or lose their potential employees. Gone are the days when employees would stick to one company for years without looking at other opportunities that come in their way. Now, the BPO employees have job prospects abroad too. It is a known fact that, retention of BPO employees is critical to long-term health and success of an organization. The performance of the employees is directly associated with quality of work, customer satisfaction, increased product sales, product promotion and even the complete image of the company. Whereas, the same thing is often indirectly linked to reporting staff, satisfied colleagues, effective planning, implementation, knowledge and deeply embedded organizational learning. Employee retention in business process outsourcing industry matters because several issues are involved in it like training time, investment, and specialized candidate search etc. Hence failing to retain a key employee is often a costly proposition for the BPO Company. Various estimates suggest, losing a middle level manager in a organization leads to loss of up to five times his salary. This might be worse for some BPO companies where fresh talent is being intensively trained and inducted, then further groomed to successive stages. At this level the loss of middle level manager can be a great loss for the company. In a BPO industry, the work is often monotonous and the opportunity for career growth is minimal. Therefore, when opportunities seem to be inviting, the attrition rate can be high. However, there are some common reasons, why people tend to leave BPO jobs. Surveys have listed some causes like prolonged night shifts, money, inability to handle huge volume of calls, stress, monotonous work pattern, lack of career growth, problems with higher level managers are some of the reason due to which BPO employees quit their jobs. If such is the case, then organizations must do something about it, they should try to find the reasons for attrition. If possible the HR managers should carry out exit interviews and try to know the reasons for resignation. If someone from the senior management resigns then take this matter on a priority basis and meet the employee to know the reasons of resignation. Steps can be taken to avoid similar reasons occurring in a case of others. Though it is impossible, but BPO companies can tackle the attrition. A BPO environment is unique and these companies should develop an innovative way to tackle such situations. |
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